Nov 26, 2023


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Strengths and Weaknesses


  • Low transaction fees - The price per transaction on the Fuse blockchain is around 0.001 USD
  • SDK tools - The Fuse blockchain is designed to bring small and medium businesses to Web 3.0 quickly and easily
  • EVM - Compatibility with the EVM brings easier connectivity with developers from the Ethereum blockchain


  • Security - The last audit of Fuse blockchain contracts took place in 2020
  • Small community - Since the 2022 ATH, users have been moving away from the project

Basic Information

Fuse is an enterprise-grade public blockchain which is compatible with EVM, offering a reliable, secure platform with low gas fees and fast transactions. It is designed for entrepreneurs and organizations looking to leverage Web 3.0 technologies and integrate crypto payments, with a decentralized infrastructure for building applications focused on gaming, social networks, and Web 3.0 payments.

The Fuse SDK toolkit enables companies to integrate Web 3.0 services and crypto payments into their mobile products through smart contract wallets. Within the Fuse ecosystem, there are over 100 decentralized service providers, including token bridges, DEXs, NFT marketplaces, fiat on-ramps, and DID identifiers.

Founded in 2019 by Mark Smargon, the Fuse blockchain aims to provide businesses and organizations with a robust and innovative blockchain solution. Smargon, who is known for his expertise in cryptocurrencies and blockchain, brought his vision to life by assembling a team of enthusiasts and experts from various fields.


Functioning of the Chain

The Fuse network blockchain operates on the Delegated Proof of Stake (DPoS) consensus and is a layer-1 public blockchain that is compatible with the Ethereum Virtual Machine (EVM). This means that applications and smart contracts developed for Ethereum can also be deployed on the Fuse network without the need for code modifications. Fuse Network is also a public blockchain, allowing anyone to interact with it, perform transactions, deploy smart contracts, and operate nodes without requiring permission from intermediaries.

Vertical Integration

Vertical integration is a key part of Fuse's payment network strategy. The goal is to compete with dominant players in the payment industry, such as Visa, Mastercard, and Stripe, and enable mainstream businesses to offer simple, fast, and secure user experiences. Fuse focuses on Small and Medium-sized Enterprises (SMEs) and provides a comprehensive technological package that includes a payment network, business infrastructure, and digital wallets.


Composition of Fuse’s vertical integration:

  • Consumer Layer
  • Business Layer
  • Implementation Layer

Simply put, the customer initiates a payment, the merchant adds a fee, and the entire transaction is sent to a validator who records it on the blockchain.

Fuse Network Consensus Algorithm

The algorithm is based on the AuRa (Authority Round) consensus mechanism developed by the OpenEthereum team (formerly known as Parity). This mechanism allows for the selection of a set of validators and integrates block reward logic with smart contracts.

Fuse’s consensus was created through unique smart contracts for consensus and block rewards, which can be upgraded using proxy contracts. A selected set of validators takes turns to sign and confirm blocks. The signed block is then distributed to all network participants who verify and append it to their state, thus confirming the block.

New blocks are created every 5 seconds, providing validators with a time window to publish their blocks and receive rewards for their work. Although it may theoretically take some time for a transaction to become final in this model, in the Fuse network, a transaction is considered completed after the confirmation of the next block.

Role and entity

The Fuse network contains 4 different roles and entities that are part of the network:

  • Power Validators
  • Operators
  • Users
  • Merchants

Power Validators


Power Validators on the Fuse platform play a crucial role in achieving the desired level of decentralization, which is important for businesses. Their task is to ensure the power supply of the Fuse platform's payment infrastructure while actively verifying transactions. These power validators are an integral part of the payment flow and are motivated by receiving a small percentage of each payment for their services. This ensures their motivation and directly links their rewards to the services provided.


Operators on the Fuse network represent a wide range of real-world business applications, games, dApps, and other services that are capable of running on the Fuse infrastructure.

The main task of operators is to create and maintain applications that integrate payment functionality and provide users with easy access to the Fuse network's features. These operators also take care of supporting application users and ensure compliance with local regulations and rules in their respective jurisdictions.

One of the key benefits of operators is that they bear the majority of the costs associated with payments on the Fuse network, as they are the businesses that utilize the Fuse network to create and deliver products and services to their customers. In this way, operators enable their clients to make payments and transactions using the Fuse network without having to deal with the technical and financial aspects of the blockchain themselves.


The end-users of the applications that have been developed and are managed and maintained by the operators, are those people who will be paying for products and services. They do not have to be blockchain experts, or even particularly tech-savvy to use the Fuse network.


Merchants require on / off ramping locally anywhere in the world. They will use out-of-the-box services such as accounting and invoicing Point-of-Sale (POS) and eCommerce plugins. Merchants will also use the out-of-the-box services on Fuse, like accounting, invoicing, POS, and eCommerce.

Fuse SDK

The Fuse Software Development Kit (SDK) is a complete set of tools designed to enable companies to easily integrate Web 3.0 services and cryptocurrency payments into their existing client applications. This product has been created with the aim of providing an easy and efficient way for companies to upgrade their applications while reducing the costs associated with development.


This developer package includes:

  • Fuse API
  • Indexers, including subgraphs and the explorer
  • The Fuse network serves as the underlying infrastructure for the Fuse stack
  • Smart wallet contracts and their modules
  • Token contracts, including ERC20 tokens and ERC721 (NFTs)
  • Token factories for creating new tokens
  • Other smart contracts including AMMs of DEXes, DAO contracts, and more

Indexers, including subgraphs and the explorer, are used for efficient data retrieval and processing within the Fuse Stack. These indexers contribute to a better understanding of blockchain data, and facilitate the further exploration of that data.

Fuse Smart Wallets

Smart wallets represent intelligent contract wallets that allow users to easily manage and interact with their assets through client applications. The Fuse Wallet SDK provides a complete set of tools for creating and managing these smart wallets, which is both simple and secure. With the Fuse Wallet SDK, users can create and manage their smart wallets with minimal effort and security. These wallets operate on the principle of non-custodial accounts, meaning users have control over their assets without entrusting their private key to an external party.

Zero Knowledge (ZK)

ZK will be used to create a private ledger, the goal of which is to ensure that transactions are confidential and encrypted while allowing for the verification or transactional legitimacy and adequacy.

ZK proofs enable other network participants to verify the legitimacy and correctness of transaction execution without accessing the actual user data, thereby ensuring transparency and trust within the blockchain ecosystem.

The Fuse blockchain continues to evolve and seeks the best direction and system to solidify its position as a leader among blockchain payment methods. It is therefore advisable to follow their whitepaper, where new technological solutions will be gradually added and explained.

The whitepaper also provides a detailed insight into the plans and strategy of the Fuse blockchain, and outlines the innovations and enhancements that the Fuse team intends to implement in order to achieve their goals. It serves as a comprehensive document that offers information on the technical aspects, concepts, and unique features of the Fuse blockchain.

Development History


  • Fuse blockchain launched


  • September - Fuse Spark, a new testnet, was launched
  • October - Private sale closed, and the distribution of Fuse coin was announced
  • November - Beta access to FuseSwap, delegation feature added, partnership with Ramp(fiat to crypto connection), Zokyo audit of Fuse smart contracts, Mystic Valley festival used the Fuse payment system
  • December - FuseSwap launched


  • January - Fuse Studio upgrade
  • February - Introduction of FuseDollar (fUSD) proposal and bug bounty program
  • March - Integration of Proof of Reserve solution, Chalink, into Fuse's stablecoin fUSD. Announcement of collaboration between Fuse and OpenZeppelin. Deployment of The Graph on the blockchain
  • April - Bridge between the Fuse blockchain and BNB Smart Chain launched
  • June - Fuse Builders Grant Program initiated
  • July - Collaboration between Fuse and ICHI for the launch of oneFUSE stablecoin
  • August - Integration with Fuse Request Network ecosystem


  • January - Collaboration between Fuse and Conntext for better EVM interoperability
  • June - Launch of Fuse Charge (developer platform for blockchain payments)
  • July - Update to the Fuse network (doubled network capacity, increased gas fee, transition of nodes to Nethermind)
  • September - Fuse grant provided to ChromePay for deploying Decentralized Identification (D-ID) solution on the Fuse blockchain


  • January - The Fuse blockchain started supporting LayerZero cross-chain protocol
  • February - Introduction of Fuse 2.0 vision
  • March - Modification of Fuse SDK to align with the new Fuse 2.0 vision
  • May - Introduction of Fuse Staking V2
Fuse previously operated on the Proof of Authority (PoA) consensus, but with the advent of Fuse 2.0, the blockchain transitioned to the Delegated Proof of Stake (DPoS) consensus, which provides a better foundation for achieving maximum decentralization.

Fuse chose to move to dPoS because this consensus allows for greater community participation and provides a higher degree of democratization and security. Delegates holding a certain number of Fuse coins have the ability to vote and influence network decisions. This ensures that not only do large players have the opportunity to influence the direction of the network, but holders of smaller amounts of tokens also have a voice and can contribute to decision-making.

The transition to dPoS is a crucial step towards decentralizing the Fuse network and enables the development of an ecosystem with greater user participation and involvement. This change in the underlying consensus is part of Fuse's broader plan to create a robust and sustainable platform with a focus on decentralization and long-term user benefits.


Mark Smargon - Co-founder & CEO


Since the age of 14, Smargon has been involved in entrepreneurship and has founded several companies of his own. However, in around 2014, his interests started turning towards blockchain and Distributed Ledger Technology (DLT).

His first major step in the blockchain field was the Colu project. Together with his team, he aimed to utilize the Bitcoin blockchain and DLT technology for payments. Unfortunately, with the emergence of the Ethereum blockchain and smart contracts, Bitcoin’s technology gradually became less relevant to his goals. Nevertheless, it was this project that introduced him to the world of blockchain, and an incredible journey into the depths of the blockchain world followed.

Since then, he has been fully dedicated to researching and developing blockchain technologies, and has explored various concepts and applications that blockchain offers. After exploring the world of blockchain, he said, "It's an area that truly excites me and motivates me to become more involved in this innovative world."

His first founded company was called Creatix, where he worked for 14 years (2001-2014). After discovering blockchain, he founded, where he worked for a further year (2013-2014). He then immersed himself fully in blockchain technology and founded Colu, where he worked for over 5 years (2014-2019). His latest venture is Fuse, which he founded in 2019, and he still serves as its CEO to this day (as of June 3, 2023).


The native coin of the Fuse blockchain is FUSE.

Its uses include:

  • Payment of fees
  • Staking
  • Governance participation

Currently, as of June 3, 2023, the governance of the Fuse blockchain is managed by three groups:

  • Validators: Validators decide on the acceptance of Fuse Improvement Proposals (FIPs). Each validator has one vote
  • Fuse Foundation: The Fuse Foundation takes care of Fuse’s treasury and the development of the Fuse blockchain
  • Project Team: The project team implements network protocol updates that have been accepted by validators, and other protocol changes that do not require validator votes, while maintaining the complete node software. They develop mobile-focused infrastructure for creating and managing token communities on the Fuse blockchain

Proposals for changes are submitted by the Fuse foundation or the project team, and the decision regarding their acceptance is made using snapshots.

Currently, the Fuse blockchain is in a predominantly centralized phase, primarily under the control of the Fuse Foundation. Therefore, the foundation has decided to empower the Fuse assembly, which consists of six members from the Fuse community, to bring the entire ecosystem closer to greater decentralization.

The Fuse assembly is responsible for:

  • Taking control of the Fuse Forum
  • Implement voting snapshots
  • Supporting the growth of the ecosystem

Fuse Assembly members:

  • Rob Brown, PHD - Council Chairman
  • Luc Lammers - Council Member, Business & Marketing
  • Lucas Core - Council Member, Business & Finance
  • Bertrand Juglas - Council Member, Technology
  • Jan Owiesniak - Council Member, Business & Technology
  • Maor Stamati - Council Member

Revenue & Tokenomics

The Fuse Foundation secured financing in two rounds during the years 2021 and 2022, raising over 7.5 million USD for the operation and development of the Fuse ecosystem. These funds were used to support and expand the Fuse ecosystem through the provision of grants, and to enhance the security of the entire blockchain through a bug bounty program.


The initial distribution was as follows:

  • 43.3% - BoostrapPool - A four-year vesting schedule is being implemented, and will be utilized for rewarding operators, conducting airdrops, and supporting liquidity providers
  • 21.7% - Future Dev Pool - Locked for a period of 4 years
  • 13.3% - Mesa + Private Sale - The release took place over a period of four months, with 25% of FUSE being released each month. The price for the private sale was 0.06 USD
  • 13.3% - Early Investors, Advisors and Team - For everyone who has contributed to the Fuse blockchain since its inception in 2019
  • 8.3% - ETOP (Employee Token Ownership Plan) - These FUSE tokens are staked and locked for a period of four years. During this time, only staking rewards will be paid out



In 2019, a total of 300 million FUSE were issued, and these are gradually released into circulation. FUSE is an inflationary coin, which means that the available coin supply increases by 5% annually. This inflation rate is fixed and serves to support the sustainability and development of the Fuse ecosystem.

The inflation of FUSE is designed to provide motivation for network validators, who are participants in the network that contribute to verifying and confirming transactions and creating new blocks, therefore receiving rewards for their work in the form of newly issued FUSE coins.

Currently (as of June 3, 2023), there are 231 million FUSE coins in circulation, with 114 million FUSE locked by 82 validators out of a total of 3,536.

The Uniqueness of the Chain

FuseSDK and Fuse Smart Wallet

The Fuse SDK is a toolset for creating and managing Fuse smart wallets in client applications. Fuse smart wallets provide enhanced security compared with traditional Externally Owned Accounts (EOAs) by utilizing smart contract wallets. Users can deposit and withdraw funds from these wallets, ensuring sole control over their assets.

The purpose of the SDK is to simplify the development process for Flutter and TypeScript applications that interact with Fuse Smart Wallets. It offers pre-built functions and utilities for secure and efficient interaction.

Using Fuse smart wallets offers several benefits, including enhanced security through non-custodial accounts, an improved user experience with gasless transactions, and a better developer experience by abstracting complex Web 3.0 development tasks.

The Fuse wallet SDK offers various features, such as creating and retrieving Fuse smart wallets associated with a user's EOA, sending transactions with gas fees covered by the Fuse relayer, retrieving transaction history, monitoring ERC20 and ERC721 token balances, staking native FUSE coins, and trading various assets on the Fuse network.

Mobile Stack

The mobile stack is a comprehensive set of tools that enables companies to create mobile applications for both iOS and Android platforms. This stack is designed to facilitate the process of creating new applications with Web 3.0 features powered by the Fuse network, specifically tailored to small and medium-sized businesses. Additionally, it allows for upgrading existing applications through integration with the Fuse Flutter SDK toolkit.

By utilizing the mobile stack, businesses have the opportunity to develop their own mobile applications that leverage the advantages of the Fuse blockchain network. This enables them to provide their users with a wide range of features and capabilities associated with Web 3.0 technologies, such as managing digital assets, smart contracts, and other blockchain interactions.

For small and medium-sized enterprises, it is important that the mobile stack is designed to make the mobile application development process as simple and accessible as possible. Companies do not need extensive teams of developers or deep knowledge of blockchain technologies; with the mobile stack, they can leverage their existing mobile application development skills and easily expand their functionality with Fuse's capabilities.

How the Network is Secured

The Fuse blockchain operates on a Delegated Proof of Stake (DPoS) consensus, with 82 validators responsible for network operation. These validators have been delegated FUSE coins by 3,536 delegates (as of June 3, 2023).

FIP 11 has been deployed on the Fuse blockchain, which introduces the capability to "jail" dishonest validators.

The focus of FIP 11 was primarily on offline validators who were not actively participating in the consensus but were still in the active set, thereby slowing down block production and network throughput. At the end of each consensus cycle, the system checks if a validator has verified at least 70% of their planned blocks. If they fail to meet this requirement, they will be removed from the pending validators' list, moved to the jailed validators' list, and penalized accordingly.

To prevent operators from failing to keep up with node operation, a strike system has been implemented for those who repeatedly break the rules:

  • 1st strike - 1-cycle min jail time
  • 2nd strike - 2-cycle min jail time
  • 3rd strike - 3-cycle min jail time
  • 4th strike - 4-cycle min jail time
  • 5th (max) strike - 5-cycle min jail time

Strikes are reset after 50 cycles out of jail.

A node's jail time is primarily to maintain network stability rather than as a form of punishment. While in jail, a user's ability to run nodes will be taken away, but they will still be able to receive rewards. Although re-staking a large portion of one's fuse to another node after being jailed may result in losing delegators and voting rights, it will allow the node to continue collecting rewards (minus a 15% fee).

If the validator is in jail for their inactivity, they can only get out by proving that they are online again:

  • Send an unjail request
  • Send a 0 FUSE transaction to the consensus contract 0x3014ca10b91cb3D0AD85fEf7A3Cb95BCAc9c0f79 from their validator wallet with the following data: 0x6eae5b11
  • This will move the node to the pending list and it will be released at the start of the next cycle


Validator Node

On the Fuse blockchain, all you need to start a node is the necessary hardware and 100,000 FUSE as an initial deposit, as well as a device that will be online 24/7.


OS - Linux (ubuntu 18.04)

Network bandwidth - 200 GB /month

RAM - 16 GB ram

SSD - 150 GB

If you have the necessary hardware, you will also need to install Docker Compose.

For the full setup of nodes and their connection to the Fuse blockchain, you can find the instructions here.


  • Contributing to network security
  • Rewards in the form of new FUSE
  • Deciding on new blockchain enhancements
  • Delegate fees


You can easily become a delegate on this page:

  • Select a validator
  • Enter the amount of FUSE you want to delegate
  • Click on "Stake"

All validators on the Fuse blockchain have a fee set at 15%. Therefore, the main criterion for selecting a validator is their activity, which is measured by the uptime; i.e., the duration for which the validator is accessible.


  • No hardware required
  • No need to delegate a large amount of FUSE
  • Rewards from the validator

Road Map



  • Fuse Improvement Proposal (FIP) for a tokenomics upgrade, the details of which will be shared within the proposal
  • API Service improvements: New Operators module – Operators will cover user and merchant fees, smart contract wallet upgrades, EIP-4337 – account abstraction compatibility
  • Web SDK version for the JS ecosystem
  • SDK extensions for social logins and on and off ramps
  • Fuse Improvement Proposal (FIP) for consensus upgrade
  • Fuse open-source mobile wallet upgrade to new SDK


  • API service new feature: Contract-powered recurring payments service
  • Privacy layer first pilot
  • Power Validators (PVs) – milestone 1. PVs can run relayers


  • Consensus upgrade is live if the proposal passes in Q2
  • Power Validators – milestone 2. Adding more services
  • Integration of liquid staking with Power Validators
  • FIP for privacy layer tokenomics upgrade proposal

The upcoming Road Map highlights the changes that Fuse is introducing in the areas of payment primitives, privacy, and consensus. FuseSDK and Power Validators (PV) will also undergo further enhancements.

PVs - They will expand their business functions, such as transaction relaying, API endpoints, oracles for data channels, bridges, and data storage, along with L2 nodes. With these improvements, the tokenomics will need to be adjusted to accommodate increased PV participation, including an increase in the required stake for becoming a PV.

Payment Primitives - The goal is to establish a standard for smart contract wallets on Fuse, allowing them to seamlessly interact with any dApps within the network.

Privacy - Enhancements to privacy will likely be addressed through the implementation of ZK rollups, which are planned to be deployed in upcoming updates.

Consensus - A proposal to change the consensus mechanism from DPoS to Ethereum PoS will be put to a vote and presented to the community, most likely during Q2 2023.


The Fuse network has over 9 active projects in its DeFi ecosystem.

The three largest are:

  • Voltage - DEX
  • Beefy - Yield Aggregator
  • GoodDollar - Yield

The Fuse network operates its own grant program. Previously, it supported the development of an NFT app on Fuse Network, where participants could receive grants ranging from 2,500 to 10,000 USD.

As of now (June 3, 2023), a new grant program called Ignite Funding Program has been launched, offering up to 10 million USD in funding for both new and existing developers.

The Ignite program consists of two main financing initiatives:

  • The first initiative is an on-chain DeFi incentive fund worth 10 million USD, aimed at increasing Total Value Locked (TVL) and the number of token holders on bridged chains, as well as increasing the overall number of stakers on Fuse and active validators
  • The second program is a 2.5 million USD grant fund that coincides with the deployment of a launchpad on Fuse. The company will provide grants of around 25,000 USD to approximately ten projects throughout the remainder of 2023, with a focus on real-world operators

Fuse Ignite is designed to cover a wide spectrum and support the growth of the ecosystem, from creating payment applications for DeFi and Web 3.0 to assisting companies in leveraging their software to build decentralized business models. The goal is to facilitate business operations for these companies and enable their transformation into decentralized entities.

To apply for a Fuse grant, click here.


The Fuse Discord channel isn’t currently showing a lot of activity, and community communication is relatively limited. However, if you need a quick response to any question, you can still rely on Discord because the team is active and willing to help. Although not much is happening at the moment, there is still an opportunity to receive support, and fast answers directly from the team.

Fuse is slightly more active on Twitter, retweeting daily events within the ecosystem which allows users to stay updated on current partnerships, upcoming news, and other important information. Following Fuse on Twitter is a great way to stay informed about the latest events and developments in the ecosystem.

Surprisingly, there is a significant amount of videos on YouTube related to Fuse, including useful tutorials, recordings of various meet-ups, question-and-answer sessions (AMAs), and announcements. The Fuse YouTube channel is highly recommended for newcomers who want to better navigate the Fuse ecosystem. These videos offer a great opportunity to familiarize yourself with the features, tools, and news within Fuse. Through the Fuse YouTube channel, you can gain valuable information and guides that will help you better understand and harness the potential of the Fuse platform.

In addition, the Fuse blog, operated by the Fuse team itself, is crucial. The blog presents the latest news, guides, and academy content, all of which are essential for better orientation within the Fuse ecosystem. Through these blog articles, you can gain valuable information and details about current developments, new features, updates, and important events within Fuse. This resource is a good means to deepen your understanding and improve your abilities to leverage the full potential of the Fuse ecosystem.



Investors in the Fuse blockchain include: Tectona Digital Assets, MVST:MG, Zokyo Studio, Aleph (Israel), Blockchain Founders Fund, Gains Associates, Collider and WolfEdge Capital.



Partners in the Fuse blockchain include:, Gnosis Safe, Peepl and, Flambu.

Where to Buy

If you wish to buy on a DEX, only one currently offers FUSE:

When purchasing on a CEX exchange, always make sure to check if it supports FUSE. FUSE is the 833rd largest cryptocurrency, so not all CEX exchanges in the crypto world may support it.

A couple of examples of those that do support FUSE are:

Supported Wallets

Ledger Nano X - The most widely used hardware wallet on the market. When paired with your software wallet, you gain greater security for your cryptocurrencies

MetaMask - Software Wallet

Trust Wallet - Software Wallet

Analyst Opinion

Fuse is an interesting project that aims to compete with payment methods like Visa or Mastercard, which charge high fees for their services. However, I believe that this is a long-term challenge. Breaking into the small and medium-sized merchant market is a massive task, but the Fuse team is managing this challenge quite well through their own developed application.

Currently, the Fuse network doesn’t have a widespread reputation, and even the smallest merchants, who are the ones that could benefit the most from lower fees, will likely overlook this technology for a few more years in some countries, due to unclear regulations and taxation stipulations.

The Fuse network is not yet popular among the crypto community either, despite having been in the market since 2019 and experiencing a price surge up to 2 USD in 2022. Currently (as of June 4, 2023), its price stands at only 0.06 USD, indicating an ongoing lack of interest. Although Fuse strives to attract new developers through its grant programs, the results of these efforts will only likely be seen in the next market growth period.

The competition that Fuse faces is significant and strong. It remains to be seen how the Fuse team will deal with this competition in the future, and what new and improved solutions they will provide in their quest to become one of the leading payment networks of the future. It would be a good idea to monitor how they tackle this challenge to see how they will significantly differentiate themselves from their competitors.

Ondřej Tittl


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